Ideological Insanity Has Gotten Way Way Worse In The UK...

A flurry of Israeli airstrikes against southern Lebanon early on Saturday killed at least 11 people and wounded 19 others. This is the most substantial escalation since mid-June, and the deadliest attack since the June 20 agreement went into effect. The Israeli presented the raids as targeting “Hezbollah terror infrastructure” and retaliation for Hezbollah resistance […]

Did Bessent Call In Favor? Stellar 10Y Auction Prices At Highest Yield Since 2000 On Near Record Foreign Demand After yesterday's ugly, it stopping through, auction, bond markets were on edge ahead of today's $39 billion reopening of benchmark 10 Year paper: an ugly auction could well send yields to new multi-decade highs (if not vice versa).  Well, at 1pm we got the results of today's 10Y auction (technically 9 Year, 10 Month reopening) and... they were surprisingly strong.  Starting at the top: the auction stopped at a high yield of exactly...

KeyBanc Downgrades Apple On New Growth Slowdown Fears Apple shares fell 1% in premarket trading after KeyBanc Capital Markets downgraded the iPhone maker to "Underweight" from "Sector Weight" and set a 12-month price target of $250. This implies roughly a 21% decline from Monday's close, putting the stock in bear-market territory. The downgrade by KeyBanc analysts Brandon Nispel and John Vinh is based on a widening disconnect between Apple's valuation and its underlying growth outlook. They cite soaring memory chip prices, which are pushing iPhone, Mac, and iPad prices higher. This...